After weighing the pros and cons the answer to whether you should rent or buy a home after being graduated from college depends mainly on your personal situation and preferences. While there are pros and cons to putting 20 percent down on a home i feel very strongly that if you re going to purchase a home especially right after college this is a necessity.
After you ve figured this out and have the down payment for me it.
Should you rent or buy a house after college. I have an excellent credit score around 780 800 and i do have a little bit of money for a down payment although it is only about 5 of the total house price we are looking for. Even if you re financially ready to buy a home you should still be sure your heart is in the purchase. So before you make your decision consider the pros and cons of buying a house.
After all your student can take care of your property and you can even earn some equity from your ownership right. Say they did not have a mortgage and after closing and moving costs clear 480 000 which they invest in a portfolio divided equally. Buying another abode is a smarter investment if the family truly considers it as one planning to rent it out long after their child.
When you pay your rent that money is spent. If you find a cheap place to rent you can save money to buy your own home in the future. Prices of houses and condos have gone up lately but are still affordable in many places and in some markets the cost of renting may be about equal to the cost of a mortgage and such.
Should you buy your college student a house. Pros and cons. You should definitely rent at the beginning unless you already know the town really well and know where you want to live for the next 5 10 years and have a down payment saved up.
Many issues come along with owning a student rental and you should really think them through before you get yourself a tough and expensive college lesson of your own. I was looking at the possibility of buying or renting a house. I am also set to get married in august.
If you want to buy a home after college you need to start saving as much as you possibly can right now. I recently graduated college with my ba. I was having an interesting discussion the other day about whether a college student or recent graduate buy a house instead of rent.
August 1 2014 saving money frugal living by jacob a irwin 10 comments the following is a post by mpfj staff writer derek sall. Should you rent or buy a house after college. They sell the house and rent an apartment for 2 000 a month.
I starting a new job in august i have a signed offer. Every payment brings you closer to owning the house.